Independent Bank Corp. Stock Forecast
Independent Bank Corp. stock price down 0.87% on Wednesday
(Updated on May 15, 2024)
The Independent Bank Corp. stock price fell by -0.87% on the last day (Wednesday, 15th May 2024) from $52.65 to $52.19. During the last trading day the stock fluctuated 2.36% from a day low at $52.01 to a day high of $53.24. The price has risen in 6 of the last 10 days and is up by 2.59% over the past 2 weeks. Volume has increased on the last day by 24 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 179 thousand shares were bought and sold for approximately $9.32 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $52.76 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Independent Bank Corp. stock with a 90% probability to be traded between $46.63 and $52.10 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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INDB Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Independent Bank Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $51.78 and $50.68. A breakdown below any of these levels will issue sell signals.
A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -18.76% to $42.40 within 19 trading days since signal was issued (Thursday, May 16, 2024).
Support, Risk & Stop-loss for Independent Bank Corp. stock
Independent Bank Corp. finds support from accumulated volume at $51.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.23 (2.36%) between high and low. For the last week, the stock has had daily average volatility of 1.86%.
Our recommended stop-loss: $50.54 (-3.16%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (INDB) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Independent Bank Corp. to open at $52.48, and during the day (based on 14 day Average True Range), to move between $50.92 and $53.46, which gives a possible trading interval of +/-$1.27 (+/-2.43%) up or down from last closing price. If Independent Bank Corp. takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $52.22 (0.06%) than the support at $51.50 (1.32%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Independent Bank Corp. stock A Buy?
Independent Bank Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.392 Hold/Accumulate Unchanged
Predicted Opening Price for Independent Bank Corp. of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $52.48 ( 0.556%) | $52.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.71 | 2.91 % | |
| R2 | 53.24 | 2.01 % | ||
| R1 | 52.95 | 1.46 % | ||
| Current price: | 52.19 | |||
| Support | S1 | 52.01 | -0.345 % | |
| S2 | 51.72 | -0.90 % | ||
| S3 | 51.25 | -1.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.92 | 1.40 % | |
| R2 | 52.35 | 0.307 % | ||
| R1 | 52.22 | 0.0575 % | ||
| Current price | 52.19 | |||
| Support | S1 | 51.50 | -1.32% | |
| S2 | 50.56 | -3.12% | ||
| S3 | 49.93 | -4.33% |
INDB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 28, 2024 | Apr 05, 2024 | $0.570 | 1.16% |
| 2 | Dec 14, 2023 | Dec 22, 2023 | Jan 05, 2024 | $0.550 | 0.86% |
| 3 | Sep 21, 2023 | Sep 29, 2023 | Oct 06, 2023 | $0.550 | 1.14% |
| 4 | Jun 15, 2023 | Jun 23, 2023 | Jul 07, 2023 | $0.550 | 1.19% |
| 5 | Mar 16, 2023 | Mar 24, 2023 | Apr 06, 2023 | $0.550 | 0.86% |
FAQ
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